Latest news with #HelenBrocklebank
Fashion Network
5 days ago
- Business
- Fashion Network
UK shopper spend in EU "soaring" due to tax-free shopping says retail body
AIR and 500 businesses, including those at all price levels from Burberry to Primark, are again calling for government ministers to reinstate tax-free shopping for international visitors and make the UK 'the shopping capital of the world'. AIR data shows that Britons spent £742 million on VAT-free shopping in the EU in 2024. That compares to £147 million in 2021, £527 million in 2022, and £646 million in 2023. And this fast growth is continuing in 2025 with spending in the first 22 weeks up 16% on the same period in 2024. Further AIR findings show that France has become the most popular EU destination for British VAT-free shoppers, attracting 35% of all spending, with Paris accounting for 75% of this. While the last government scrapped tax-free shopping for tourists in the UK at the start of 2021, it noted EU countries extended it to British shoppers for the first time. The figures suggest that 'as a consequence, Britons are increasingly shunning homegrown stores and travelling abroad to make significant purchases where they can reclaim sales tax', AIR said. It believes the findings 'will increase pressure on ministers to reintroduce tax rebates for all international visitors – both EU and non-EU – to put British businesses back on a level playing field'. Reversing the current policy would, according to AIR's analysis, mean the new market for EU consumers alone would supercharge the national economy by over £3.65 billion a year, create 73,000 new jobs across the country, boost regions of the UK by £1.8 billion a year and generate over £500 million in additional VAT alone for the Treasury. Derrick Hardman, chair of AIR, said: 'The disproportionate increase in British visitor numbers to the EU show that a new market in shopping-led tourism has emerged. 'It's sad to see British shoppers taking their business elsewhere. But they have worked out that the tax rebates they can get on the Continent more than outweigh the costs of hopping on the Eurostar or taking a cheap short-haul flight somewhere. 'It makes no sense for the UK to remain the only destination in Europe not offering tax-free shopping. Thanks to our position outside the EU, we now have a unique chance to reverse the policy of the last government and become the world's shopping capital – offering tax rebates for both EU and non-EU shoppers. 'All the evidence shows that reintroducing a tax-free shopping scheme would more than pay for itself thanks to all the spending stimulated not just in retailers but on hotels, restaurants, transport, tourist attractions and entertainment. 'This Government has promised to pull every lever available to promote growth – here is an obvious one.' Helen Brocklebank, CEO of luxury body Walpole, added: 'Every pound spent by British and international tourists in Europe instead of the UK threatens growth, denies the Exchequer revenue and undermines the competitiveness of our retailers, manufacturers, hospitality businesses and iconic brands. 'As the sector body representing Britain's high-value manufacturing and services industries, which export British excellence worldwide and support 450,000 jobs and £25.5 billion in tax revenues, we are calling for a simple reversal of the previous government's policy. This would allow the UK to share in future growth, keep our towns, cities and tourism hubs globally competitive, and ensure businesses of all sizes can trade on equal terms with their European counterparts.'
Fashion Network
6 days ago
- Business
- Fashion Network
UK shopper spend in EU "soaring" due to tax-free shopping says retail body
AIR and 500 businesses, including those at all price levels from Burberry to Primark, are again calling for government ministers to reinstate tax-free shopping for international visitors and make the UK 'the shopping capital of the world'. AIR data shows that Britons spent £742 million on VAT-free shopping in the EU in 2024. That compares to £147 million in 2021, £527 million in 2022, and £646 million in 2023. And this fast growth is continuing in 2025 with spending in the first 22 weeks up 16% on the same period in 2024. Further AIR findings show that France has become the most popular EU destination for British VAT-free shoppers, attracting 35% of all spending, with Paris accounting for 75% of this. While the last government scrapped tax-free shopping for tourists in the UK at the start of 2021, it noted EU countries extended it to British shoppers for the first time. The figures suggest that 'as a consequence, Britons are increasingly shunning homegrown stores and travelling abroad to make significant purchases where they can reclaim sales tax', AIR said. It believes the findings 'will increase pressure on ministers to reintroduce tax rebates for all international visitors – both EU and non-EU – to put British businesses back on a level playing field'. Reversing the current policy would, according to AIR's analysis, mean the new market for EU consumers alone would supercharge the national economy by over £3.65 billion a year, create 73,000 new jobs across the country, boost regions of the UK by £1.8 billion a year and generate over £500 million in additional VAT alone for the Treasury. Derrick Hardman, chair of AIR, said: 'The disproportionate increase in British visitor numbers to the EU show that a new market in shopping-led tourism has emerged. 'It's sad to see British shoppers taking their business elsewhere. But they have worked out that the tax rebates they can get on the Continent more than outweigh the costs of hopping on the Eurostar or taking a cheap short-haul flight somewhere. 'It makes no sense for the UK to remain the only destination in Europe not offering tax-free shopping. Thanks to our position outside the EU, we now have a unique chance to reverse the policy of the last government and become the world's shopping capital – offering tax rebates for both EU and non-EU shoppers. 'All the evidence shows that reintroducing a tax-free shopping scheme would more than pay for itself thanks to all the spending stimulated not just in retailers but on hotels, restaurants, transport, tourist attractions and entertainment. 'This Government has promised to pull every lever available to promote growth – here is an obvious one.' Helen Brocklebank, CEO of luxury body Walpole, added: 'Every pound spent by British and international tourists in Europe instead of the UK threatens growth, denies the Exchequer revenue and undermines the competitiveness of our retailers, manufacturers, hospitality businesses and iconic brands. 'As the sector body representing Britain's high-value manufacturing and services industries, which export British excellence worldwide and support 450,000 jobs and £25.5 billion in tax revenues, we are calling for a simple reversal of the previous government's policy. This would allow the UK to share in future growth, keep our towns, cities and tourism hubs globally competitive, and ensure businesses of all sizes can trade on equal terms with their European counterparts.'
Fashion Network
6 days ago
- Business
- Fashion Network
UK shopper spend in EU "soaring" due to tax-free shopping says retail body
AIR and 500 businesses, including those at all price levels from Burberry to Primark, are again calling for government ministers to reinstate tax-free shopping for international visitors and make the UK 'the shopping capital of the world'. AIR data shows that Britons spent £742 million on VAT-free shopping in the EU in 2024. That compares to £147 million in 2021, £527 million in 2022, and £646 million in 2023. And this fast growth is continuing in 2025 with spending in the first 22 weeks up 16% on the same period in 2024. Further AIR findings show that France has become the most popular EU destination for British VAT-free shoppers, attracting 35% of all spending, with Paris accounting for 75% of this. While the last government scrapped tax-free shopping for tourists in the UK at the start of 2021, it noted EU countries extended it to British shoppers for the first time. The figures suggest that 'as a consequence, Britons are increasingly shunning homegrown stores and travelling abroad to make significant purchases where they can reclaim sales tax', AIR said. It believes the findings 'will increase pressure on ministers to reintroduce tax rebates for all international visitors – both EU and non-EU – to put British businesses back on a level playing field'. Reversing the current policy would, according to AIR's analysis, mean the new market for EU consumers alone would supercharge the national economy by over £3.65 billion a year, create 73,000 new jobs across the country, boost regions of the UK by £1.8 billion a year and generate over £500 million in additional VAT alone for the Treasury. Derrick Hardman, chair of AIR, said: 'The disproportionate increase in British visitor numbers to the EU show that a new market in shopping-led tourism has emerged. 'It's sad to see British shoppers taking their business elsewhere. But they have worked out that the tax rebates they can get on the Continent more than outweigh the costs of hopping on the Eurostar or taking a cheap short-haul flight somewhere. 'It makes no sense for the UK to remain the only destination in Europe not offering tax-free shopping. Thanks to our position outside the EU, we now have a unique chance to reverse the policy of the last government and become the world's shopping capital – offering tax rebates for both EU and non-EU shoppers. 'All the evidence shows that reintroducing a tax-free shopping scheme would more than pay for itself thanks to all the spending stimulated not just in retailers but on hotels, restaurants, transport, tourist attractions and entertainment. 'This Government has promised to pull every lever available to promote growth – here is an obvious one.' Helen Brocklebank, CEO of luxury body Walpole, added: 'Every pound spent by British and international tourists in Europe instead of the UK threatens growth, denies the Exchequer revenue and undermines the competitiveness of our retailers, manufacturers, hospitality businesses and iconic brands. 'As the sector body representing Britain's high-value manufacturing and services industries, which export British excellence worldwide and support 450,000 jobs and £25.5 billion in tax revenues, we are calling for a simple reversal of the previous government's policy. This would allow the UK to share in future growth, keep our towns, cities and tourism hubs globally competitive, and ensure businesses of all sizes can trade on equal terms with their European counterparts.'
Fashion Network
6 days ago
- Business
- Fashion Network
UK shopper spend in EU "soaring" due to tax-free shopping says retail body
AIR and 500 businesses, including those at all price levels from Burberry to Primark, are again calling for government ministers to reinstate tax-free shopping for international visitors and make the UK 'the shopping capital of the world'. AIR data shows that Britons spent £742 million on VAT-free shopping in the EU in 2024. That compares to £147 million in 2021, £527 million in 2022, and £646 million in 2023. And this fast growth is continuing in 2025 with spending in the first 22 weeks up 16% on the same period in 2024. Further AIR findings show that France has become the most popular EU destination for British VAT-free shoppers, attracting 35% of all spending, with Paris accounting for 75% of this. While the last government scrapped tax-free shopping for tourists in the UK at the start of 2021, it noted EU countries extended it to British shoppers for the first time. The figures suggest that 'as a consequence, Britons are increasingly shunning homegrown stores and travelling abroad to make significant purchases where they can reclaim sales tax', AIR said. It believes the findings 'will increase pressure on ministers to reintroduce tax rebates for all international visitors – both EU and non-EU – to put British businesses back on a level playing field'. Reversing the current policy would, according to AIR's analysis, mean the new market for EU consumers alone would supercharge the national economy by over £3.65 billion a year, create 73,000 new jobs across the country, boost regions of the UK by £1.8 billion a year and generate over £500 million in additional VAT alone for the Treasury. Derrick Hardman, chair of AIR, said: 'The disproportionate increase in British visitor numbers to the EU show that a new market in shopping-led tourism has emerged. 'It's sad to see British shoppers taking their business elsewhere. But they have worked out that the tax rebates they can get on the Continent more than outweigh the costs of hopping on the Eurostar or taking a cheap short-haul flight somewhere. 'It makes no sense for the UK to remain the only destination in Europe not offering tax-free shopping. Thanks to our position outside the EU, we now have a unique chance to reverse the policy of the last government and become the world's shopping capital – offering tax rebates for both EU and non-EU shoppers. 'All the evidence shows that reintroducing a tax-free shopping scheme would more than pay for itself thanks to all the spending stimulated not just in retailers but on hotels, restaurants, transport, tourist attractions and entertainment. 'This Government has promised to pull every lever available to promote growth – here is an obvious one.' Helen Brocklebank, CEO of luxury body Walpole, added: 'Every pound spent by British and international tourists in Europe instead of the UK threatens growth, denies the Exchequer revenue and undermines the competitiveness of our retailers, manufacturers, hospitality businesses and iconic brands. 'As the sector body representing Britain's high-value manufacturing and services industries, which export British excellence worldwide and support 450,000 jobs and £25.5 billion in tax revenues, we are calling for a simple reversal of the previous government's policy. This would allow the UK to share in future growth, keep our towns, cities and tourism hubs globally competitive, and ensure businesses of all sizes can trade on equal terms with their European counterparts.'
Yahoo
20-05-2025
- Business
- Yahoo
New report shows UK luxury exports to EU down 43% post-Brexit
Walpole, the body representing British luxury industry, has urged governmental intervention to address the obstacles hindering trade with the EU for the luxury sector following Brexit. The sector, valued at £81bn ($108bn), is facing challenges post-Brexit, as detailed in Walpole's latest Trading with Europe report 2025. The study, conducted by Frontier Economics, revealed that following the UK's departure from the EU, luxury exports have suffered with an average drop of 43%. This "Brexit effect" is substantial, given the industry's role in sustaining over 450,000 jobs and contributing £14.6bn to the Treasury. Fashion and accessories exports have taken the hardest hit, plummeting 64%, while interior design, home goods and craftsmanship exports have fallen by 50%. The complexities of UK-EU trade relations have been exacerbated by increased tariffs from the US and diminished demand from Chinese consumers. The study illustrates a shift in export dynamics, with EU exports dropping from 42% of total luxury exports in 2017 to 32% in 2022. Despite this decline, the EU market remains paramount for UK luxury goods, outpacing both the US and Asia, which each account for 22% of exports and the Gulf region at 14%. Post-Brexit trade barriers have introduced increased paperwork, higher costs and delays in exports due to new certification demands and customs intricacies. It claims that these challenges have disproportionately affected brands that maintain high customer service standards. Inconsistent rule enforcement across EU member states and ports further complicates matters by introducing unpredictability into costs and timelines. Complications with VAT refunds and reclamation processes have led some businesses to incur losses on returned items. Marketing efforts have also been stifled by difficulties in distributing product samples to journalists and influencers. Changing sustainability standards and labelling requirements have also injected operational uncertainty into business planning. In response to these challenges, some British luxury brands have set up distribution centres and commercial operations within the EU to redirect investment away from potential UK growth. Walpole CEO Helen Brocklebank stated: "The British luxury sector has incredible growth potential, with a projection to reach £125bn by 2028. "However, to achieve this ambition, we cannot afford to have one arm tied behind our back. Strong links and favourable trading with Europe remain essential to reaching this forecast, alongside our success in other global markets, and key to supporting craft-led and high value manufacturing in the UK." To address issues within the luxury industry, Walpole has made a series of recommendations to the UK government, including joining the Pan-Euro-Mediterranean Convention to support key exports, implementing a digital labelling system, negotiating better VAT terms with the EU and securing an SPS (Agreement on the Application of Sanitary and Phytosanitary Measures). "New report shows UK luxury exports to EU down 43% post-Brexit" was originally created and published by Retail Insight Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
